Breeze Holdings Stock Price, News & Analysis

Breeze Holdings Acquisition Corp. (OTCQX: BRZH) is a publicly traded special purpose acquisition company (SPAC), also referred to as a blank check company. It is classified in the Financial Services sector under Shell Companies. According to company disclosures, Breeze was organized for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities.

Breeze’s business model centers on identifying a target operating company and combining with it through a negotiated transaction. In this structure, Breeze functions as a corporate vehicle to take a private company public, subject to regulatory and shareholder approvals. The company’s public listing under the symbol BRZH allows investors to participate in the potential value of a future business combination.

Business Purpose and SPAC Structure

As a blank check company, Breeze does not have an operating business of its own. Instead, its stated objective is to complete a business combination. The company has described its activities as focusing on mergers and similar transactions with one or more businesses or entities. This structure is typical for SPACs, which raise capital first and then seek a suitable target.

In an update dated August 21, 2024, Breeze noted that it intended to continue pursuing a business combination transaction after a prior proposed combination with TV Ammo, Inc. was terminated. The company also disclosed a deadline with the U.S. Securities and Exchange Commission to complete a business combination by December 26, 2024. These statements highlight the time-bound nature of its mandate as a SPAC.

Business Combination with YD Biopharma Limited

Breeze later announced that it had entered into a definitive agreement to merge with YD Biopharma Limited, a clinical-stage biopharmaceutical company. YD Biopharma focuses on cancer prevention medical diagnostics and the development of exosome-based therapeutics for diseases with high unmet medical need. It has also become a supplier of clinical trial drugs and post-market auxiliary products, according to the transaction announcements.

On September 25, 2024, Breeze reported that it had signed the merger agreement with YD Biopharma. The transaction structure involves Breeze and YD Biopharma each merging into wholly owned subsidiaries of a newly formed Cayman holding company expected to be named YD Biopharma Holdings Limited. The combined company is anticipated to be listed on the Nasdaq Capital Market, subject to regulatory and shareholder approvals and other customary closing conditions.

On August 15, 2025, Breeze announced that its stockholders had voted to approve the previously announced business combination with YD Biopharma. The company reported that the combined company would operate as YD Bio Limited and that its ordinary shares were expected to trade on the Nasdaq Stock Market under the ticker symbol “YDES” upon closing, subject to satisfaction of customary closing conditions. This shareholder approval marks a key step in transforming Breeze from a shell company into part of an operating biopharmaceutical group.

Relationship to YD Biopharma’s Business

While Breeze itself is a shell company, the approved business combination links its history to YD Biopharma’s activities in biotechnology and medical diagnostics. Transaction materials describe YD Biopharma as focusing on cancer prevention medical diagnostics and exosome-based therapeutics, and as a supplier of drugs and medical materials for clinical trials. They also note that YD Biopharma has engaged in licensing and partnership arrangements related to pancreatic and breast cancer detection technologies and treatments for eye diseases.

These details are relevant for investors researching BRZH because, upon completion of the business combination, Breeze’s role is primarily as a historical SPAC vehicle that facilitated the listing of YD Biopharma’s business under a new holding company and, ultimately, a new ticker symbol.

Trading Status and Market Venue

In an August 21, 2024 update, Breeze reported that its application to trade on the OTCQX Best Market had been approved. As a result, its common stock under the ticker “BRZH” and its warrants under the ticker “BRZHW” began trading on OTCQX effective that date. This places BRZH on an over-the-counter market rather than a national securities exchange, as described in the company’s own announcement.

Later communications regarding the YD Biopharma transaction indicate that, following closing, the combined company’s ordinary shares are expected to trade on the Nasdaq Stock Market under the ticker symbol “YDES.” This reflects a planned transition from Breeze’s OTCQX listing as a SPAC to a Nasdaq listing for the combined operating company, subject to closing and listing approvals.

Status as a Transforming/Former Shell Company

Based on the company’s own descriptions, Breeze began as a blank check company with no operating business, organized solely to complete a business combination. With stockholder approval of the merger with YD Biopharma and the expectation that the combined company will be named YD Bio Limited and trade as “YDES,” BRZH primarily represents the SPAC phase of this corporate history.

For users researching BRZH, this means that the ticker is associated with a SPAC that has pursued multiple potential combinations, including a terminated agreement with TV Ammo, Inc. and an approved business combination with YD Biopharma. Over time, current operating information about the biopharmaceutical business is expected to be associated with the combined company’s new name and ticker, while BRZH serves as a record of the SPAC’s role in that process.

Key Points for Investors and Researchers

• Breeze Holdings Acquisition Corp. is identified as a blank check company in the Financial Services sector under Shell Companies.
• The company’s stated purpose is to complete a merger or similar business combination with one or more businesses or entities.
• Breeze’s securities (BRZH and BRZHW) began trading on the OTCQX Best Market on August 21, 2024.
• A previously announced business combination with TV Ammo, Inc. was terminated, after which Breeze continued to seek another target.
• Breeze entered into a definitive agreement to merge with YD Biopharma Limited, a clinical-stage biopharmaceutical company.
• Stockholders later approved the business combination with YD Biopharma, and the combined company is expected to operate as YD Bio Limited with an anticipated Nasdaq ticker “YDES,” subject to closing.